An analysis of a year of activity (2014-15) shows the University of Chester’s total value to the economy as £386 million, according to an independent report.

The contributions that the university makes financially, educationally, culturally and to society - in its immediate surroundings, regionally and nationally - are examined in the newly-published Economic Impact Assessment (EIA) report.

The study was commissioned during a period of intense investment and development and follows the university’s first EIA in 2012 (both produced by an independent body) which amounted to a £298 million annual impact.

Using a number of nationally recognised indicators, the 176-year-old institution’s worth to the wider world has therefore risen by almost a third in just three years.

Professor Tim Wheeler, vice-chancellor, said: “The University of Chester is one of the region’s key economic drivers; a multi-million pound business, which makes a measurable difference and which has been identified by the Government as a significant component in its Northern Powerhouse aspirations.

Professor Tim Wheeler, vice-chancellor of the University of Chester (Image: Picture: Rob Stratford)

“The university is constantly evolving, but its principles remain constant and embedded in our foundational values – to recognise the vital role of education in the service of society; to encourage the acquisition of knowledge and the development of skills and we acknowledge a responsibility to look for every opportunity to put that knowledge and those skills to good use throughout the community.

“We are proud and privileged to be able to make such a substantial difference.”